$80 Trillion in Shadow Banking - FedWatch 122
Bitcoin Magazine Podcast
00:00
You Can't Count It, Right?
There is credit out there that is uncountable, really. Milton Friedman talked about this in the earliest days of the dollar and the euro dollar coming into existence. He was already talking about that because we couldn't tell the difference in the dollar system as he was describing it already in the 50s and 60s. There's just literally no way to count how much money exists right now. You can't count it. And well, the way that you count it is the same way you count the shadow money is by prices in the economy. So they have to look at the prices and say, oh, prices are going up or down or whatever. It's all backwards, man.
Transcript
Play full episode
